Amperia lines up Rs 1,210 crore for Lithium Battery Unit_Amperia lines up Rs 1,210 crore for Lithium Battery Unit

Amperia lines up Rs 1,210 crore for Lithium Battery Unit

May 21, 2024

ThinkStock PhotosAmperia The government received three major investment proposals for new electric vehicle and electric storage policies, two of which were approved last month.

Amperia Lithium Battery Manufacturing plans to invest Rs 121 crore in Gowribidanur in nearby Chikkaballapur district to manufacture lithium-ion battery electric vehicles for electric vehicles. The company plans to buy the technology from Singapore.

RV Industry Minister Deshpande told The Economic Times that the review of the investment site has been completed and a high-level committee headed by the Prime Minister will formally approve the investment in about a month. He added that the facility will occupy 88 local acres and create 600 jobs.

The minister said the government has received three major investment proposals under the new electric vehicle and energy storage policy, including Emperia, two of which were approved last month.

The other two projects approved last month are Goldstone Infratech’s investment of 49.5 to manufacture electric buses and electric cars at Bidarrrbi, a 150-acre site, and Mahindra Electric Mobility’s construction of an aerospace complex at Devahalllililli Aerospace and Defense Park. Construction program costing Rs. 1.45 billion. Establishment of R&D facility for evaluation testing of electric vehicles.

The state has attracted 100 people Rs 100 crore investment proposals for electric vehicles and batteries. The minister said the storage industry will act within two months of the policy notification.

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